fidelity bond

(redirected from Fidelity Bonds)
Also found in: Legal, Financial.

fidelity bond

n.
An insurance contract that indemnifies an employer for loss resulting from a fraudulent or dishonest act by an employee.
Mentioned in ?
References in periodicals archive ?
The firm said that it has acquired Broker of Record rights to certain fiduciary liability policies and fidelity bonds previously brokered by David Walker Insurance Services (DWIS) in San Francisco.
Because of the valuable nature of data accessible to IT companies that work with financial clients, these clients frequently name third-party Fidelity Bonds as a prerequisite for signing a contract.
Whether we write your primary insurance or not, we are capable of placing fidelity bonds that meet the Department of Agriculture and National Telecommunications and Information Administration stipulated terms.
Essentially insurance for employee thefts, fidelity bonds provide peace of mind and compensation should a theft occur.
By statute, the Federal Deposit Insurance Company can require insured financial institutions to maintain fidelity bonds to insure against such losses, and the FDIC has chosen to mandate that requirement.
Available for more than 20 years, the program provides general and professional liability coverage, workers' compensation, fidelity bonds, and employment practices liability.
Guarantee Company of North America, a Canadian issuer of surety and fidelity bonds, said it has closed its purchase of Mid-State Surety Corp.
Back in the days when fidelity bonds covered losses due to employee dishonesty, insurers issued continuous policies.
The letter asked for numerous forms and documents, including plan documents, summary plan descriptions, tax returns, annual reports, audited financial statements, board and committee minutes, fidelity bonds, service provider agreements and more.
Professional liability insurance, directors' and officers' (D&O) liability insurance and fidelity bonds fail to provide relief.
And finally, we review some specific shortcomings found in many of the fidelity bonds available.
The special characteristics of contract, noncontract, and fidelity bonds are covered, as well as the subjective nature of the all-important assessment of the personal character of the parties involved.